Automotive Semiconductor Market to Grow at a CAGR of 7.1% during the Forecast Period

Automotive Semiconductor

Automotive Semiconductor Market is projected to be worth USD 194.99 billion by 2030, registering a CAGR of 7.1% during the forecast period (2022 – 2030). The market was valued at USD 54.9 billion in 2022.

Automotive semiconductors are very essential electronic components used in an automobile. Their working efficiency and dependability have a direct impact on the Automotive sector. The advent of new technologies in the Automotive sector has been creating demand for automotive semiconductors globally. The automotive semiconductor market comprises various devices such as sensors, microcontrollers, memories, and power discrete devices among others. These automotive semiconductors perform different applications such as engine control & management, body electronics, safety & security, and infotainment systems among others.

The crash sensor is one of the most common safety equipment found in every vehicle these days. Automobiles are now becoming more comfortable and smarter with rising technology making their way into the automotive industry along with stringent emission norms which are driving the automotive semiconductor market globally., With continuous research & development activities and technological advances in the design and manufacturing process, the reliability and cost-effectiveness of these devices are being improved day by day., Technological advancements enable semic

Key Players
Key Players in the Global Automotive Semiconductor Market are NXP Semiconductor NV, Infineon Technologies AG, Renesas Electronics Corporation, STMicroelectronics N.V., Toshiba Corporation, Texas Instrument Inc., Robert Bosch GmbH, Micron Technology, ON Semiconductor Corporation, and Analog Devices Inc.

The global automotive semiconductor market is expected to see moderate growth over the next few years as demand for safety features and more sensors are integrated into automobiles. This will cause a rise in sales of these key components by companies who want their vehicles equipped with all available technology from unicorn horses that can fly you anywhere your heart desires at an instant, but only if they’re built on Blockchain!

Key Segments of Automotive Semiconductor Industry Survey

by Component: Micro Components (Processors), Memory Devices, Logic, Optical & Sensors, Analog ICs, Discrete Devices; by Vehicle Type: Automotive Semiconductors for Passenger Vehicles, Automotive Semiconductors for Light Commercial Vehicles, Automotive Semiconductors for Heavy Commercial Vehicles; By Application:  Body, Safety, Telematics & Infotainment, Power Trains, Chassis

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